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On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).
The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs.
The Trustees of the IFRS Foundation (Trustees) are pleased to announce the appointment of Yanli Liu to the IFRS Interpretations Committee (Interpretations Committee). Ms Liu replaces Zheng Yang whose second and final term ended on 30 June 2022. The Trustees thank Mr Yang for his service and commitment to the Interpretations Committee.
Ms Liu is currently the Executive Vice President and the Chief Finance Officer of the State Grid International Development Company Ltd which is the international arm of State Grid Corporation of China. With over 20 years of experience as a preparer in multinational corporations, Ms Liu has a deep knowledge of IFRS Accounting Standards and different national standards around the world. She also comes with vast experience in cross-border mergers and acquisitions, and international capital markets.
The Trustees also approved the reappointments of Lisa Bomba, Jens Freiberg, Karsten Ganssauge and Brian O’Donovan to the Interpretations Committee. All appointments are for a term of three years with effect from July 2022 to June 2025. Reappointed members will step down from the Interpretations Committee when their term ends in June 2025.
The Interpretations Committee works with the IASB in supporting the consistent application of IFRS Accounting Standards. It does so by, among other things, publishing agenda decisions that often explain how to apply those Standards in response to application questions submitted to it.
The Interpretations Committee has 14 expert members who have extensive global experience and technical expertise in the practical application of IFRS Accounting Standards. The Chair of the Interpretations Committee is Bruce Mackenzie who also serves as an IASB member.
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